Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Gülen not only my hero, also a model for other religions

“He is not only my hero for what he has done for the Muslim societies but also [offers] a model for all other religions,” said Dirk Ficca, executive director of the Chicago-based Council for a Parliament of the World’s Religions.

The tragedy in Soma will also be felt in politics

Mr Erdogan has launched what he admits is “a witch hunt”, demoting and reshuffling hundreds of Gulenists within the bureaucracy.

It is not fair to tar 1.8 billion for actions of a few

We, the undersigned members of the Auburn Ministerial Association, wish to disassociate ourselves from the remarks made by the Rev. Rudy Tidwell about Islam and Muslims in the Sept. 20 edition of The Auburn-Opelika News for these reasons: Any religion that demands its members to pray five times a day and to fast for an […]

Pakistani Govt deports abducted Turkish teacher and family despite UN protections

The abducted Turkish teacher Mesut Kacmaz and his family were reportedly deported by Pakistani government to Turkey on early Saturday. Lahore High Court had asked Interior Ministry to locate and release the family and not deport them until further notice.

Animation – Story of Turkish teacher Gokhan Acikkollu, tortured to death under police custody

Gökhan Açıkkollu, a history teacher suffering from diabetes, died of torture in police custody as part of a post-coup investigation into Turkey’s Gülen group. He was found innocent one-and-a-half years later and “reinstated” to his job a year later.

Today’s Zaman Editor-in-Chief Bülent Keneş released pending trial

The İstanbul 8th Penal Court of Peace ruled on Wednesday to release Today’s Zaman Editor-in-Chief Bülent Keneş pending trial after deliberating on a petition by the lawyers of Keneş, who was arrested on Saturday and detained at Silivri Prison.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

A new book: Fethullah Gulen and The Gulen Movement in 100 Questions

NPR’s Interview with Gulen – He Denies Involvement In Coup Attempt

Fethullah Gulen will be awarded the prestigious Manhae Grand Prize

Hizmet movement and Kurdish question in Turkey

Erdogan caught off guard in latest political crisis

Nigerian federal gov’t on arrested students: Turkey on a vendetta mission

Tanzania dismisses Turkish gov’t allegations concerning Feza schools, asks for proof

Copyright 2026 Hizmet News